Fletcher v. Schaumburg
Supreme Court of Missouri
Appeal from St. Louis Circuit Court. I. The sheriff in a partition sale is trustee of the fund. He held the note .taken for the purchase money of the land subject to the order of the court; he has no other authority to collect the money and pay it over under the order of the court; he could not sell the note. II.
Read the full summary
Appeal from St. Louis Circuit Court. I. The sheriff in a partition sale is trustee of the fund. He held the note .taken for the purchase money of the land subject to the order of the court; he has no other authority to collect the money and pay it over under the order of the court; he could not sell the note. II. The plaintiff took the note with the knowledge of the fact that the sheriff held it in the capacity of trustee ; he became a party to the illegal act of the sheriff and acquired no title to the note. The sheriff is merely trustee and not the owner of the note ; and that he held such…
1Opinion of the CourtWagner, Judge
This was an action brought by the plaintiff against the defendant on a negotiable promissory note. The note was given by the defendant for the purchase of land sold in partition by the sheriff, and made payable two years after date to “ James Castello, Shff.,” and negotiable and endorsed by the payee before maturity. The endorsement on the back of the note had the designation “ Shff.” appended to Castello’s name, but there was nothing to show that the plaintiff as endorsee had any other notice that the payee held it in a fiduciary capacity,' or that in its sale he was committing a breach of…
2Cited by4 opinions
- Eyerman v. Second National BankMissouri Court of Appeals · 1883
- Sparrow v. State Exchange BankMissouri Court of Appeals · 1903
- Payne v. First National BankMissouri Court of Appeals · 1891
- Mayer v. Columbia Savings BankMissouri Court of Appeals · 1900